Pars Oil & Gas Company (POGC) of Iran has made a massive oil discovery with in-place reserves estimated at more than the entire estimated reserves base thought to remain in the UK North Sea.
The 34billion barrels discovery is located beneath the already discovered Ferdowsi gasfield in the Iranian sector of the Persian Gulf.
According to Iran’s Shana News Agency, an appraisal programme is now under way to delineate the extent of the field.
Ferdowsi is located some 190km southeast of Bushehr and the gas reservoir is reputed to contain 13trillion cu.ft of gas in place of which 9trillion is thought to be recoverable.
Ferdowsi gasfield is controlled by National Iranian Oil Company and SKS Oil & Gas International, whereas the oilfield beneath is controlled by POGC.
Tap Oil is to undertake a large 3D seismic acquisition over the Offshore Accra block off Ghana to obtain further insight into the deepwater part of the concession.
Subject to final environmental approval for the shoot, Tap expects to start the survey this month.
The company has already licensed a significant volume of regional 2D seismic from TGS Geophysical. Interpretation of this 2D data has confirmed the presence of a potentially significant structural trend and several stratigraphic-structural features similar to those explored successfully elsewhere along the West African Transform Margin.
Rather than acquiring further 2D seismic data as per the minimum work programme agreed with the Ghanaian authorities, Tap has elected to move directly to acquiring 3D seismic data to mature this potential to a drill-ready status.
The Offshore Accra contract area is located on the West African Transform Margin, along trend from Tullow’s major Jubilee, Tweneboa, and Owo oil discoveries.
Jubilee, with reserves of more than 1billion barrels, is expected to start producing commercially this month while the other discoveries are under appraisal.
Tap’s new 3D will be able to define additional drillable prospects in the block to provide a range of targets prior to drilling in late 2011 or early 2012.
The seismic acquisition is to be carried out by Polarcus using its new Polarcus Naila acquisition vessel. It is expected to take about six weeks.
Fast-track processed data will be available for interpretation about four weeks after the end of acquisition, with final processed data scheduled for delivery in mid 2011.